Bain & Company Statement: December 20, 2019

Bain & Company Statement: December 20, 2019

Johannesburg – December 20, 2019 – Bain & Company rejects Mr Athol Williams’ latest assertions against the firm and we vehemently deny that we were not transparent with him about the findings from our internal investigation or withheld material information from him. 

We also reject out of hand Mr Williams’ allegations that Bain in any way attempted to coerce him or influence him through monetary levers or otherwise. Mr Williams rejoined Bain & Company as a partner in 2019 and we welcomed him back into the firm because we believed he could help us better understand and rectify some of the actions relating to our engagement with SARS.[1]   As with all of our employees, current and former, Mr Williams signed confidentiality agreements when he rejoined Bain. Exit negotiations with former senior employees are standard and it is always our hope that employees leaving Bain of their own volition recognise that they were treated fairly and equitably.

As we have previously stated publicly, Bain has conducted a thorough investigation into all aspects of our engagement with SARS. This investigation, which is now complete, did not find any evidence that Bain was involved in any scheme with Mr Moyane to damage SARS. Consistent with our commitment to be transparent, Bain & Company approached the relevant South African authorities in July of this year to reaffirm our commitment to fully cooperate in any investigation.

We have acknowledged that we made mistakes in our work at SARS, but the firm had no motive, monetary or otherwise, to damage SARS.

Bain’s focus continues to be on implementing our remedy plan and to make ongoing positive contributions to the South African people and South African society.


[1] Mr Williams agreed to rejoin Bain & Company as a partner in the firm’s Johannesburg office in 2019.  Mr Williams previously served as an advisor to Bain from September 2018, at Bain’s invitation, in relation to our work at SARS.




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